ETASSUM33020 - Schedule 3 SAYE option schemes: Shares to which schemes can apply: Scheme shares

A Schedule 3 SAYE option scheme must provide for directors and employees to acquire shares (바카라 사이트˜scheme shares바카라 사이트™) which satisfy the requirements of paragraphs 18- 20 and 22 (paragraph 17(1)).

Tax relief will only be given for options granted and exercised in respect of shares which satisfy the relevant requirements. Scheme organisers should therefore:

  • ensure that scheme rules define the scheme shares precisely, such as 바카라 사이트˜Ordinary £1 shares in X Ltd which satisfy paragraphs 18- 20 and 22 Schedule 3바카라 사이트™. Where there is only one class of share it would be acceptable to say 바카라 사이트˜ordinary shares which satisfy paragraphs 18- 20 and 22 etc.바카라 사이트™,
  • ensure that options may only be exercised if the shares to be acquired satisfy paragraphs 18-20 and 22, and
  • ensure that the shares intended to be 바카라 사이트˜scheme shares바카라 사이트™ do, in fact, satisfy the relevant requirements (see below).

Scheme organisers should:

examine the Articles of Association of the company whose shares are to be the 바카라 사이트˜scheme shares바카라 사이트™ to ensure that the shares to be used in the scheme satisfy the conditions in paragraphs 18 - 20 and 22.